BidaskClub lowered shares of Tabula Rasa Healthcare (NASDAQ:TRHC) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday.
Several other brokerages have also commented on TRHC. Chardan Capital upped their price target on Tabula Rasa Healthcare from $19.50 to $21.00 and gave the stock a buy rating in a research note on Tuesday, August 8th. Robert W. Baird upped their price target on Tabula Rasa Healthcare from $17.00 to $18.00 and gave the stock an outperform rating in a research note on Tuesday, August 8th. Piper Jaffray Companies restated an overweight rating and set a $20.00 price target (up from $19.00) on shares of Tabula Rasa Healthcare in a research note on Wednesday, August 9th. UBS upped their price target on Tabula Rasa Healthcare from $18.00 to $25.00 and gave the stock a buy rating in a research note on Wednesday, August 30th. Finally, Wells Fargo & Company lowered Tabula Rasa Healthcare from an outperform rating to a market perform rating and upped their price target for the stock from $17.00 to $21.00 in a research note on Thursday, September 7th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $28.25.
Tabula Rasa Healthcare (TRHC) traded down $1.49 during midday trading on Wednesday, reaching $27.51. The company had a trading volume of 1,969,300 shares, compared to its average volume of 102,888. Tabula Rasa Healthcare has a 1 year low of $11.42 and a 1 year high of $36.80. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 0.47.
In other news, insider Orsula V. Knowlton sold 8,000 shares of the stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $26.68, for a total value of $213,440.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 45.80% of the company’s stock.
Several hedge funds have recently bought and sold shares of TRHC. TIAA CREF Investment Management LLC grew its stake in shares of Tabula Rasa Healthcare by 108.5% in the first quarter. TIAA CREF Investment Management LLC now owns 8,131 shares of the company’s stock valued at $110,000 after buying an additional 4,232 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in Tabula Rasa Healthcare by 257.0% in the second quarter. New York State Common Retirement Fund now owns 10,000 shares of the company’s stock valued at $151,000 after purchasing an additional 7,199 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Tabula Rasa Healthcare in the first quarter valued at about $178,000. Cadence Capital Management LLC purchased a new position in Tabula Rasa Healthcare in the second quarter valued at about $210,000. Finally, Financial Consulate Inc. purchased a new position in Tabula Rasa Healthcare in the third quarter valued at about $222,000. Institutional investors and hedge funds own 31.85% of the company’s stock.
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Tabula Rasa Healthcare Company Profile
Tabula Rasa HealthCare, Inc (Tabula Rasa), formerly CareKinesis, Inc, is a provider of patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations and manage risk. The Company delivers its solutions through a suite of technology-enabled products and services for medication risk management, which includes bundled prescription fulfillment and adherence packaging services for client populations with complex prescription needs.
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